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[emphasis added]Dear 4evermaat,
Security checks are done on every single deposit made via credit card. It serves to verify that the credit card used for the deposit has not been reported lost, stolen, or in any way corrupted. It is not mandatory for customers to verify their accounts prior to making a deposit. Customers can open an account, deposit in it, and start trading, however, they have 14 days to verify their accounts or the accounts get blocked due to missing documents....
Dear 4evermaat,
The issue with the account holder here is not that the deposit was not cleared. The deposit was made via credit card under the name of the account holder. AvaTrade's Terms and Conditions clearly state that the verification of an account is mandatory for a withdrawal. It is up to the customer to decide whether he/ she wants to deposit before or after his/ her account is verified. Many people make a deposit, and do not trade until the account is verified as well. Since a fake document was uploaded in this case, the initial deposit was immediately cancelled.
The trader was allowed to trade in good faith, as any other trader. Had the account holder uploaded a proper, genuine utility bill, his account would have been verified, and any funds in the account could have been withdrawn without any delay.
Kind Regards,
The AvaTrade Team